Refresh Image Sequence / Growing Image Sequence

There has long been a "refresh growing file" setting in the Preferences->Media section but I have never understood what it does. I think it had something to do with streaming or broadcasting workflows. 

Could we extend that functionality to images sequences as well. Or give us a way to "update an image sequence" when more files have been added to the end of it. Currently I have to either unlink and relink the media file, or reimport it, or use the replace media command. Would be nice to have a function in premiere where it can just refresh and look for new frames.

Usually just trying to preview a render in progress from C4D or Blender or something, but there is no way to refresh footage like their is in AE.